Hi Friends, I am in need of a service contract bond for senior position employees, basically binding them to work with us for a certain minimum number of years.
Pls share if anyone has the same. Also, I want to know about, are agreements and bonds allowed in employment as per the rules and regulations of Labour laws / Central Govt / State Govt or by Supreme court / High Court orders in the current scenario.
Regards
Nanjappa
Manager HR
From India, Bangalore
1Pls share if anyone has the same. Also, I want to know about, are agreements and bonds allowed in employment as per the rules and regulations of Labour laws / Central Govt / State Govt or by Supreme court / High Court orders in the current scenario.
Regards
Nanjappa
Manager HR
From India, Bangalore
Such bonds or agreements compelling an employee to remain in service for a certain period and restricting them from joining a competitor are legally invalid. You cannot enforce it even if you have a bond on stamp paper. However, if the employee is given any specific training and the cost of training is met by the employer, to that extent the employer can make him liable to compensate, and if the employee has paid back the amount spent by the employer on his training, he should be relieved from service. Therefore, when you send an employee for training, you can make an agreement that you should be with the employer for a certain period and failing which (or if you wish to leave) you should pay the cost incurred on training with or without interest. Please remember that general training shall not be treated as training given to the particular employee.
From India, Kannur
From India, Kannur
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.
Employer suit for breaking service bond within 3 yrs - Delhi HC 5.9.2014.pdf
Death while in service letter for pf death claim.docx